Employees Retirement System of Texas Has $1.23 Million Stock Holdings in Lineage, Inc. (NASDAQ:LINE)

Employees Retirement System of Texas lowered its position in Lineage, Inc. (NASDAQ:LINE - Free Report) by 37.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 21,077 shares of the company's stock after selling 12,668 shares during the period. Employees Retirement System of Texas' holdings in Lineage were worth $1,234,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. GAMMA Investing LLC increased its stake in shares of Lineage by 7,466.7% in the 4th quarter. GAMMA Investing LLC now owns 454 shares of the company's stock valued at $27,000 after acquiring an additional 448 shares during the last quarter. Franklin Resources Inc. acquired a new position in shares of Lineage during the 4th quarter worth about $208,000. Stifel Financial Corp acquired a new stake in Lineage during the 3rd quarter valued at $211,000. MetLife Investment Management LLC acquired a new position in shares of Lineage in the third quarter valued at approximately $226,000. Finally, EntryPoint Capital LLC acquired a new stake in Lineage in the 4th quarter worth about $289,000.

Insider Buying and Selling at Lineage

In related news, Chairman Adam Matthew Schwartz Forste purchased 24,317 shares of the business's stock in a transaction that occurred on Friday, February 28th. The shares were acquired at an average price of $60.50 per share, with a total value of $1,471,178.50. Following the acquisition, the chairman now owns 24,317 shares in the company, valued at approximately $1,471,178.50. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.40% of the stock is owned by corporate insiders.

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Lineage Trading Up 2.8 %

Shares of LINE traded up $1.48 on Friday, hitting $53.70. 660,037 shares of the stock traded hands, compared to its average volume of 1,286,210. Lineage, Inc. has a 1 year low of $46.63 and a 1 year high of $89.85. The stock's 50 day moving average is $57.27 and its two-hundred day moving average is $62.58. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.95 and a current ratio of 1.07.

Lineage Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, March 31st will be given a $0.5275 dividend. This represents a $2.11 annualized dividend and a dividend yield of 3.93%. The ex-dividend date of this dividend is Monday, March 31st.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Mizuho cut their price target on Lineage from $86.00 to $67.00 and set a "neutral" rating on the stock in a research note on Wednesday, January 8th. Citigroup initiated coverage on Lineage in a report on Friday, March 28th. They set a "neutral" rating and a $64.00 price objective for the company. JPMorgan Chase & Co. cut Lineage from an "overweight" rating to a "neutral" rating and cut their price objective for the stock from $78.00 to $75.00 in a research report on Friday, December 20th. Piper Sandler reduced their price objective on shares of Lineage from $90.00 to $75.00 and set an "overweight" rating for the company in a research note on Thursday, February 27th. Finally, Robert W. Baird reduced their target price on Lineage from $76.00 to $70.00 and set an "outperform" rating for the company in a research report on Thursday, February 27th. Nine research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $77.63.

About Lineage

Lineage, Inc is the world's largest global temperature-controlled warehouse REIT with a network of over 480 strategically located facilities totaling over 84.1 million square feet and 3.0 billion cubic feet of capacity across countries in North America, Europe, and Asia-Pacific. Coupling end-to-end supply chain solutions and technology, Lineage partners with some of the world's largest food and beverage producers, retailers, and distributors to help increase distribution efficiency, advance sustainability, minimize supply chain waste, and, most importantly, feed the world.